Looking to balance out your exposure to ENVB? The ETFs below have the lowest correlation with ENVB — they tend to move on their own, which can help reduce risk when ENVB drops. The stock ideas table highlights individual companies that behave independently from ENVB.
Best Diversifiers for ENVB
10 ETFs have low correlation with ENVB (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Global Clean Energy ETF (ICLN) (Alternative Energy Equities) with a 1Y correlation of 0.15, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Global Clean Energy ETF | 0.15 | 0.15 | 0.22 | 87 | Alternative Energy Equities | ENVB vs ICLN | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.16 | 0.14 | 0.22 | 74 | Nasdaq-100, Derivative Income | ENVB vs JEPQ | |
| Invesco Nasdaq Biotechnology ETF | 0.17 | 0.20 | 0.25 | 67 | Health & Biotech Equities | ENVB vs IBBQ | |
| Invesco S&P Ultra Dividend Revenue ETF | 0.18 | 0.22 | 0.22 | 71 | Mid Cap Value Equities, Dividend | ENVB vs RDIV | |
| Vanguard Total International Stock ETF | 0.19 | 0.19 | 0.24 | 60 | Global Equities | ENVB vs VXUS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENVB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENVB and solid risk/return profiles. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of -0.03, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | -0.03 | 0.06 | 0.03 | 62 | Healthcare | |
| Duke Energy Corporation | -0.02 | 0.06 | 0.05 | 53 | Utilities | |
| Chevron Corporation | -0.02 | 0.05 | 0.08 | 83 | Energy | |
| International Business Machines Corporation | 0.02 | 0.06 | 0.10 | 53 | Technology | |
| Eli Lilly and Company | 0.05 | 0.04 | 0.03 | 72 | Healthcare |
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